Prachay Group
Creating a winning environment to attract the best talent in the finance industry
PRACHAY ADVISORS
Business finance consultancy and transaction advisors.
PRACHAY CAPITAL
RBI registered NBFC that provides customized and innovative financial solutions to mid to large businesses and invest into debt securities.
PRACHAY FUND
SEBI registered Cat II Alternative Investment Fund that provides equity and structured equity funds to mid to large sized businesses.
PRACHAY FOUNDATION
Section 8, Company registered to undertake corporate social responsibilities.
The core of any successful organisation is often found in its culture that shapes the very essence of its existence. Culture isn’t merely a set of values written on a wall. It is the soul of its operations, the invisible force driving behaviors, decisions, and outcomes.
In the realm of business success, culture isn’t just a buzzword; it’s the secret sauce that fuels innovation, inspires teamwork, and cultivates an environment where every individual feels not just valued, but integral to the collective journey toward success.
A robust and positive culture isn’t just desirable; it’s the cornerstone upon which businesses thrive, fostering employee engagement, amplifying productivity, and creating an identity that sets a company apart in the market.
In this article, Business Connect is poised to unravel an interesting case study of an emerging finserv startup – Prachay Group that has manifested the concept of an “winning” corporate culture in a very unique ‘desi’ way.
Delving into the depths of this narrative, we’ll explore how its distinct “gamified work culture” has propelled its talent to better engagement and performance while delivering innovation and professional excellence.
Overview of Prachay Group
Prachay Group is a Pune based financial conglomerate in the corporate finance segment. It is one of the fastest growing finserv consisting of a boutique investment bank, a non-banking finance company and an alternative investment fund.
Purpose of the group “To contribute to nation building by helping businesses grow.”
Prachay Group has emerged as a trailblazing venture that aims to spotlight the transformative power of culture within the organization, illuminating the path to sustained growth and excellence, while adding substantial value to the financial services industry. The management of Prachay Group boasts of a vibrant and winning environment where collaboration is synonymous with enjoyment.
The team takes immense pride in their profound commitment and genuine passion for their endeavors. They are dedicated to excellence and integrity that serve as the cornerstone of their every action and decision-making process. Their innovative strategies are redefining the conventional financial landscape, aiming to revolutionize the industry and contribute to a brighter future for the nation.
Prachay Group is in constant search of individuals to join their inspired and empathetic organization, where breaking barriers, challenging norms, and collective achievements are a way of life.
Talent Value Proposition
The company aims to create a winning environment to attract the best talent in the finance industry. The entire talent management initiatives at Prachay are employee centric and employee driven.
Tagline for employee value proposition “Experience True Aspirations”
Experience signifies the opportunity to work on the financial problem-solving assignments in the most innovative and engaging work environment. True highlights the responsibility to operate in the finance industry and work as trustees of people’s confidence. And aspiration is the purpose of work that is to contribute to nation building by helping businesses grow
To gain a deeper insight of the company’s cultural fabric and core values, we engaged in a tête-à-tête with the founder and CEO, Girish Lakhotiya.
This conversation provided an invaluable opportunity to explore the foundational ethos that underpins the organization’s operations. Hence, this story is a guide to Prachay Group’s vision, aspirations, and the bedrock principles that guide the company’s journey.
If India were to become an economic super power by 2047, the path to such a journey will be charted by strong financial services companies. India would need its own Goldman Sachs and KKRs that would lead innovation in the financial landscape.
There has been lot of initiatives on financial inclusion and availability of banking to the retail and small businesses. However, the medium to large traditional businesses have not been in primary focus of the banking system. The investors have also valued financial institutions lending smaller ticket sized loans forcing them to almost ignore the ‘mid to large’ segment. PCPL is exploiting this opportunity in the market.
Unlike in the past, capital has now become a strategy for growth. The ambitious businesses are looking at debt to capitalize on growth opportunities. These new-age entrepreneurs need lenders who are not ‘risk only’ focused but weigh risk with opportunities. They prefer dealing with a ‘businessman banker’ who can balance risk and aspirations.
What is worth noting is their solemn promise to deliver win-win structures that add value to all stake holders, Prachay Group prioritizes a focused approach that harmonizes business ideas with the dynamic needs of the industry, ensuring rapid yet stable progress. The team at Prachay boasts extensive market knowledge, a diverse skill set, and a successful track record, setting them apart in the financial landscape.
What sets them apart is their business finance expertise and finance platforms like NBFC and AIF under their umbrella. They can provide both strategic financial advisory and funds to chart unprecedented growth. Prachay has mastered the art of understanding the pulse of the market, swiftly identifying pivotal opportunities for growth.
This acute awareness enables them to offer tailored financial solutions that are customised and innovative. Their advisory services aren’t merely about numbers but they are a blend of insightful analysis, foresight, and a deep understanding of market trends. By aligning their recommendations with the unique goals and challenges of each client, Prachay Group ensures that the advice they provide isn’t just timely, but a catalyst for unprecedented growth and success.
A glimpse into their cultural values
In the post – covid world, the employee-employer relationship has been quite volatile. We saw ‘great resignation’ to ‘mass-retrenchment’ in just a span of few years. The growing disconnect between the organisations and the workforce is more visible than ever. We can gauge the severity of the problem by the fact that private bankers in India have seen attrition of around 40% in recent times.
Prachay Group has been successful in cultivating a culture that is employee centric and employee driven. The focus is on creating a winning environment that attracts top-notch talent in the finance industry. Aligning vision and values became the cornerstone, where the vision extended beyond individual aspirations, aiming to serve the business community as a contribution to the nation’s development.
The company define with the tagline of “Experience. True. Aspiration”. It clearly reflects on providing a unique work environment, blending fun and productivity (Experience), upholding integrity (True), and aspiring to revolutionize India’s financial landscape (Aspiration).
Prachay fosters open communication channels, allowing two-way dialogue between employees and the management, ensuring everyone is aligned with the company’s objectives. Emphasizing teamwork and performance gamification, the company operates akin to a sports team, ensuring collective success and a clear understanding of individual roles.
Needless to repeat that Prachay’s culture prioritizes holistic employee well-being, encompassing physical, emotional, and spiritual growth through learning sessions and engagement activities. The company takes a lot of pride in India’s culture and heritage and celebrates Indian festivals with great zeal fervour. It recognizes personal milestones, the management encourages a sense of connection, while regular offsites foster strategic planning and team-building.
This approach centers on intentional cultural definition, effective communication, and transparent role clarity, culminating in a workplace that promotes professional growth and an enriched employee experience.
Moreover, flexibility, autonomy, and innovation are encouraged, allowing employees to shape their professional journeys while recognizing and celebrating outstanding efforts to cultivate a positive and high-spirited workplace. This culture’s outcome has been reflected in a high happiness quotient, enhancing the efficiency and effectiveness of the workforce.
The distinguishing factors:
- At Prachay Group, the excitement isn’t just reserved for Friday nights. The workplace is equally vibrant on Mondays as everyone collaborates towards a shared objective.
- Embarking on the journey of continuous growth and learning is a hallmark at Prachay. The organization spearheads pioneering emphasizing an employee-centric approach that nurtures growth, supports enjoyment, and encourages active engagement. This signifies the distinctive culture at Prachay, highlighting the pivotal role each team member plays within the organization’s framework.
- The focus on nation-building is intrinsic to their growth strategy which is constantly channelling business growth for the betterment of the nation itself. Their approach is geared towards empowering a diverse range of entrepreneurs through meticulously tailored solutions. In the current landscape of India, opportunities abound, but the scarcity of funding remains a significant obstacle. They distinguish themselves by bridging this gap with custom and timely financial solutions, a departure from the conventional offerings of traditional lenders.
- At Prachay, integrity stands as their currency, guided by the compass of honesty. They prioritize win-win deals over shortcuts, directing their focus toward achieving long-term success. Rooted in a vision that extends across generations, their culture thrives on authenticity and uniqueness, nurturing both personal and professional growth within their ranks.
- Prachay embodies a philosophy where work is considered an art form, reflecting their collective identity. They’ve taken great care to meticulously document their distinct culture, establishing a shared language and set of beliefs. Their dedication to perfection resonates in every piece of documentation, whether internal or external. From proposals to investor presentations, they captivate audiences with precision and foresight. It’s not merely about creating documents; it’s about leaving an enduring imprint.
- Commitments are at the heart of their ethos, far more than mere words. Demonstrating unwavering dedication, they’ve tirelessly ensured that commitments remain unblemished, even amidst unforeseen hurdles. Whether it’s financial obligations or pledges to their team, Prachay upholds their promises steadfastly, even amid the most challenging circumstances. Their sheer promise stands as an unbreakable bond, serving as the bedrock of their integrity towards giving the best to their employees
- Through meticulous planning and empowering each team member, their focus lies in both strategy formulation and its seamless execution. Embracing a culture steeped in continual feedback, well-defined responsibilities, and a holistic approach, they equip themselves with the strategies essential for achieving success.
- And above all, amidst challenging moments, the team unites, showcasing exceptional support and solidarity. It illustrates their collective strength and resilience when faced with adversity, highlighting the remarkable camaraderie and unwavering backing offered by each member.
Voices Of The Collective
- “I appreciate Prachay’s commitment to making a meaningful impact, not only in the business world but also in society at large. It’s inspiring to be part of a company that believes in adding value to the whole ecosystem and serving a larger cause.” – Shweta Shrivastava (Business Development Manager)
- “Prachay isn’t just my workplace. It feels like a cool sports team where each member is trying to perform to the best of their ability while contributing to the team’s success. We gamify work to make it more fun and exciting” – Surabhi Kadam (Credit Manager)
- “The collaborative team culture makes work more interesting. I love being part of a team as I enjoy the camaraderie and sharing common purpose and values. I can’t even thinking of working offline. The positive energy here makes even the busiest days enjoyable, fostering a thriving work atmosphere.” – Dhaval Trivedi (Service Manager)
- “For me, learning and growing as individual is the most important thing. Prachay is a knowledge and leaning oriented organisation and provides excellent platform for professionals to gain expertise in the field of business finance.” – Tanvi Shah (Legal Associate)
- “We, at Prachay, say that ‘integrity’ is the currency in the world of finance. And we believe that it starts by being straightforward and authentic. It creates an environment of trust.” – Divya Raizada (Chief of Staff)
- “Prachay encourages innovation and creativity. Hence, there is no culture of micro management. You are given freedom to execute the work.” – Krishna Sharma (Service Manager)
- “The strong emphasis on transparency and open communication at Prachay fosters a sense of belonging which I truly value. Being heard and having a voice in decisions makes me feel invested in the company’s success.” – Priya Thorat (Accounts Manager)
